Friday, July 8 2011 17:29

Ameriabank granted Euromoney's Award of Excellence as Best Bank of Armenia


ArmInfo. Ameriabank has been granted Euromoney's Award of Excellence 2011 as the Best Bank of Armenia.

During a press-conference Friday Retail Banking Manager of Ameriabank Vazrik Sekoyan said that the awarding ceremony took place in London July 7.

"By granting the award Euromoney has recognized Ameriabank's excellence in management, enlargement, introduction of new services like factoring, structured deposit, Ameria Global Trading and Web Trade systems. The other criteria considered during the evaluation process were positive merger experience, high development rate, high quality of assets, liabilities and capital, successful partnership with international financial organizations," Sekoyan said.

Ameriabank's Development Manager Tigran Jrbashyan pointed out the importance of the award and expressed hope that Financial Times will also distinguish the bank.

Since 1992 Euromoney has annually been giving 25 Awards for Excellence to the leaders in the sphere of banking, equity market in over 100 countries. Euromoney asks the banks to send their annual reports and then holds a public opinion poll among their national and foreign partners. A short list is drawn up according to the result of the poll, where three or four banks remain. The jury selects the winners out of them. The Awards are given with due regard for the quantitative and qualitative aspects: professionalism of management and personnel, balance, transactions over the past year.

According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), Ameriabank is in the top three banks by its main indices. As of 1 April 2011, the bank's assets amounted to 160.5 bln AMD (2nd position), total capital - 32.7 bln AMD (2nd position), authorized capital - 25.5 bln AMD (1st position), credit portfolio - 111.7 bln AMD (2nd position), total liabilities - 127.8 bln AMD (2nd position), of them time deposits - 85.7 bln AMD (1st position) and call liabilities - 29.7 bln AMD (3rd position). As of late 2010, the net profit of the bank amounted to almost 3 bln AMD (4th position).

To note, the majority shareholder of Ameriabank is TDA Holdings Limited affiliated with Troika Dialog (99.99%).
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